Manny Villar prices Premiere REIT IPO at P1.50 a share to raise P2.4B

Ultra bilyonaryo Manny Villar’s Premiere Island Power REIT has set the final price of its maiden public offering at P1.50 each share, finalizing the size of the equity deal to P2.4 billion.

Premiere REIT’s offering was reduced by 25 percent from the earlier maximum price of P2 a share and P3.2 billion total proceeds.

It will debut on the stock exchange on December 15 following its initial public offering which is scheduled to run from Nov. 28 to Dec. 5.

Premiere REIT will be offering up to 1.4 billion firm shares and up to 210 million overallotment option shares.